Threats against China. A year ago, in an article titled “China must not copy the Kaiser’s errors,”Financial Times columnist Martin Wolf warned China against any action that could be construed as a challenge to US global hegemony. He indicated that a Chinese policy replicating the German Kaiser’s challenge to British hegemony before the outbreak of World War I in 1914 would lead to a similar outcome: all-out conflict. “If open conflict arrived, the US could cut off the world’s trade with China. It could also sequester a good part of China’s liquid foreign assets,” Wolf wrote, recalling that China’s “foreign currency reserves, equal to 40 percent of GDP are, by definition, held abroad.” Such naked theft of trillions of dollars that China has earned from trade with the United States and Europe would directly raise the prospect of a collapse of global trade and preparation for war between nuclear-armed powers. With its ever more reckless and violent policies, US imperialism is vastly overplaying its hand, discrediting itself at home and fueling opposition from rival states. By driving Russia and China together, in particular, Washington is undoing what was long seen as a major achievement of US imperialist statecraft: the 1972 rapprochement between US President Richard Nixon and Chinese leader Mao Zedong, which turned China into a US ally against the former Soviet Union. strategic-culture.org/news/2014/12/24/china-challenges-us-economic-war-against-russia-directly-challenging-nato-power.html
Posted on: Wed, 24 Dec 2014 14:31:30 +0000
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